4.8 MW of Rooftop Projects in Spain
In Fall 2009, Recurrent Energy entered the European solar market with a series of rooftop solar projects in Spain. The projects are the result of an innovative co-development arrangement with ProLogis, a leading global provider of distribution facilities. Recurrent Energy was awarded a feed-in tariff by the Spanish government for the projects, which are expected to enter commercial operation mid-2010.
Under the terms of the arrangement between the companies, Recurrent Energy leases rooftops from ProLogis as solar project sites. Recurrent Energy will finance, own and operate the solar power systems located on eight of ProLogis’ distribution centers in Barcelona and Madrid. The systems will be grid-connected, feeding all power generated back into the local utility through a feed-in tariff, which was awarded to Recurrent Energy in July.
With more than 450 million square feet of large, flat, unobstructed, permit-ready roof space worldwide, ProLogis is able to solve one of the most basic issues involved in developing large-scale solar projects—the availability of appropriate host sites. The execution of the projects will use local services within Barcelona and Madrid, including local contractors, engineering firms, and consultants. The completion of all projects is estimated for mid-2010.
